Iris Energy Limited, operating under the name IREN, announced on February 26, 2024, an update on its expansion plans, aiming to reach a hashrate of 20 EH/s by the end of 2024. The company, which specializes in next-generation data center operations for Bitcoin mining and AI cloud services, reported an increase in operating hashrate to 7 EH/s in the first half of 2024, with the remaining 3 EH/s scheduled for commissioning throughout the same period. The second half of the year is expected to see an additional 10 EH/s from new Bitmain T21 miners, secured through fixed price contracts, and a 200MW expansion at the existing Childress data center. IREN's growth strategy includes expanding its Bitcoin mining capacity, launching AI cloud services with 816 NVIDIA...Show More

Iris Energy Limited, operating under the name IREN, announced on February 26, 2024, an update on its expansion plans, aiming to reach a hashrate of 20 EH/s by the end of 2024. The company, which specializes in next-generation data center operations for Bitcoin mining and AI cloud services, reported an increase in operating hashrate to 7 EH/s in the first half of 2024, with the remaining 3 EH/s scheduled for commissioning throughout the same period. The second half of the year is expected to see an additional 10 EH/s from new Bitmain T21 miners, secured through fixed price contracts, and a 200MW expansion at the existing Childress data center. IREN's growth strategy includes expanding its Bitcoin mining capacity, launching AI cloud services with 816 NVIDIA H100 GPUs, and increasing data center capacity to 460MW, all powered by 100% renewable energy. The company's development portfolio boasts 2,160MW of secured power capacity across North America. Decisions regarding the Childress expansion and the exercise of miner purchase options will be based on market conditions, shareholder value, and funding availability throughout 2024. IREN retains the flexibility to upgrade its existing fleet using these options.